PRICE STRATEGY

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PRICE STRATEGY by Mind Map: PRICE STRATEGY

1. New Product Strategies

1.1. Market-Skimming Pricing

1.2. Market-Penetration Pricing

2. Price definition

2.1. The role of price

3. Considerations in setting price

3.1. Internal Factors

3.1.1. Company's Objectives

3.1.2. Company's MKT strategy

3.1.3. MKT mix

3.1.4. Organizational factors

3.2. External Factors

3.2.1. The Economy

3.2.2. Types of Market

3.2.3. Demand

4. Stages for establishing prices

4.1. Developing Pricing Objectives

4.1.1. Brand objectives

4.1.2. Customers objectives

4.1.3. Sales objectives

4.1.4. Competition Objectives

4.1.5. Intermediaries Objectives

4.2. Estimate Demand

4.2.1. Demand Curves

4.2.1.1. Shifts in Demand

4.2.1.2. Estimating Demand

4.2.2. Price - Demand Relationship

4.2.2.1. Price Elasticity

4.2.2.2. How to reduce customers' price sensitivity

4.3. Determining Costs

4.3.1. Variable Costs

4.3.2. Fixed Costs

4.3.3. Break-even Analysis

4.4. Evaluating the Pricing Environment

4.4.1. National Economy

4.4.2. Competition

4.4.2.1. Pure/ Perfect Competition

4.4.2.2. Monopolistic Competition

4.4.2.3. Oligopolistic Competition

4.4.2.4. Pure monopoly

4.4.3. Consumer trends

4.5. Developing Pricing Strategies

4.5.1. Cost-based Strategies

4.5.1.1. Cost-plus Pricing

4.5.1.2. Markup Pricing

4.5.2. Price Adjustment Strategies

4.5.2.1. Discount & Allowance Pricing

4.5.2.1.1. Cash discount

4.5.2.1.2. Quantity Discount

4.5.2.1.3. Functional/ Trade Discount

4.5.2.1.4. Seasonal Discount

4.5.2.1.5. Trade-in Allowances

4.5.2.1.6. Promotional Allowances

4.5.2.2. Segmented Pricing

4.5.2.2.1. Customer-Segmented Pricing

4.5.2.2.2. Product Form Pricing

4.5.2.2.3. Location-based Pricing

4.5.2.2.4. Time-based Pricing

4.5.2.3. Psychological Pricing

4.5.2.3.1. Psychological Prices

4.5.2.3.2. Reference Prices

4.5.2.4. Promotional Pricing

4.5.2.4.1. Special-event Pricing

4.5.2.4.2. Flash Sales

4.5.2.4.3. Cash Rebates

4.5.2.5. Geographical Pricing

4.5.2.6. Dynamic & Internet Pricing

4.5.2.7. International Pricing

4.5.3. Customer needs-based Strategies

4.5.3.1. Good-value Pricing (EDLP)

4.5.3.2. Value-added Pricing

4.5.4. Competition-based Strategies

4.6. Customer demand-based Strategies

4.6.1. Target Costing

4.6.2. Yield Management Pricing

4.7. Choose Pricing Tactics

4.7.1. Pricing for Individual Products

4.7.1.1. Two-part Pricing

4.7.1.2. Payment Pricing

4.7.2. Pricing for Multiple Products

4.7.2.1. Price Bundling

4.7.2.2. Captive Pricing

4.7.3. Distribution-based Pricing

4.7.3.1. FOB Pricing

4.7.3.2. Basing-point Pricing

4.7.3.3. Uniform delivered Pricing

4.7.3.4. Freight Absorption Pricing

4.7.4. Discounting for Channel Members